@ThatCrazyDude @klaatu but that’s true for everything, value is always subjective. Nobody dictates the price of bitcoin, it’s a market outcome. I understand why it has aspects of fiat, but it also has aspects of commodity monies. George Selgin has a a paper about it that classifies it as a third class of monies, synthetic commodities, and I think that fits the reality of crypto better than calling either fiat or commodity money.